Mulvaney to Prioritize Business Costs in CFPB Reorganization

New office would help determine scale of fines, other enforcement actions

WASHINGTON—Mick Mulvaney has tightened his control of the Consumer Financial Protection Bureau with a reorganization that will place more emphasis on evaluating the economic cost of the agency’s actions and bring more of its operations under direct supervision of his handpicked staff.

In a memo to CFPB staff sent Wednesday, the Trump-appointed acting director announced he would create an “office of cost benefit analysis” reporting to the director that will help direct the bureau’s supervision and enforcement priorities. Businesses...